Low oil prices sink Chevron Arctic drilling plans

PUB. DATE

December 2014

SOURCE

Energy Daily;12/22/2014, Issue 244, p4

SOURCE TYPE

Periodical

DOC. TYPE

Article

ABSTRACT

The article reports on the decision by oil company Chevron to cancel its exploratory drilling plans in the remote Arctic waters of the Beaufort Sea. Topics covered include an 40 percent decline in oil prices, the high regulatory hurdles faced by Chevron and other companies that hold Arctic offshore leases, and the high costs of operating in the region.